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Congress Financial Reform

  • WASHINGTON, Dec 22- Billionaire investor Carl Icahn targeted environmental and banking regulations on Thursday as big drags on U.S. corporate investment and said revamping them would be a top priority in his role as adviser to President-elect Donald Trump. Icahn refused to speculate on candidates he would recommend to lead the U.S. Securities and Exchanges...

  • *Banca Leonardo focusing more on core Italian arm. PARIS, Dec 22- UBS France is to buy the local private banking arm of Italy's Banca Leonardo, the latest instance of consolidation in the private banking industry, which is having to contend with rising regulatory costs and a pressure on fees. UBS France will hold a majority stake in the joint venture and the...

  • Dec 21- New York's financial regulator will delay an anticipated Jan. 1 deadline for banks and insurers doing business in the state to comply with controversial cyber security rules, a person familiar with the matter said. The regulator, the New York State Department of Financial Services, will publish a revamped version of its cyber security rules in the New...

  • *LSE says sale to Euronext subject to European Commission review. London Stock Exchange Group Plc and Deutsche Boerse said on Tuesday that LSE was in discussions about selling the French subsidiary of LCH.Clearnet to address anti-trust concerns raised by the European Commission in relation to their planned merger. LSE and Deutsche Boerse also hope that...

  • *Less than third of UK corporate rate of 20 pct. LONDON, Dec 17- Some of the biggest foreign investment and commercial banks operating in Britain paid an average tax rate of just 6 percent on the billions of dollars of profits they made in the country last year, a Reuters analysis of regulatory filings shows. Bank of America's two main UK investment banking...

  • The bank agreed to pay $37 million to settle charges with federal and New York state regulators, and an additional $3.25 million to Financial Industry Regulatory Authority, Wall Street's self-funded regulator. This marks the third joint case against a major bank's dark pool trading platform filed this year by the SEC and New York. The SEC and New York Attorney...

  • *Less than third of UK corporate rate of 20 pct. LONDON, Dec 16- Some of the biggest foreign investment and commercial banks operating in Britain paid an average tax rate of just 6 percent on the billions of dollars of profits they made in the country last year, a Reuters analysis of regulatory filings shows. Bank of America's two main UK investment banking...

  • BEIJING, Dec 16- China's banking regulator said on Friday that banks must strictly control credit to coal and steel firms that are violating capacity cuts, the latest in a series of regulations aimed at reducing loans to industries struggling with over-capacity. The China Banking Regulatory Commission told banks to stop providing financial support to "...

  • SAO PAULO, Dec 14- The pension fund for oil company Petroleo Brasileiro SA's employees on Wednesday called for securities industry watchdog CVM to investigate some of Brazil's largest asset managers over allegations of irregularities, a statement said. Walter Mendes, president of Fundação Petrobras de Seguridade Social, commonly known as Petros, asked...

  • NEW YORK/ WASHINGTON, Dec 13- Wells Fargo would damage financial markets if it were pushed to bankruptcy, U.S. regulators said on Tuesday as they imposed restrictions on the bank's business. On Tuesday, regulators determined that Wells Fargo's living will still fell short and that the San Francisco- based bank would be sanctioned, the Federal Deposit Insurance...

  • Wells Fargo was one of five banks to fail an initial assessment in April. On Tuesday, regulators determined that Wells Fargo's living wills fell short and that the San Francisco- based bank would be sanctioned, the Federal Deposit Insurance Corporation said in a statement. Wells Fargo may submit an amended living will by March 31 and regulators may lift...

  • Sen. Pat Toomey, R-Pa.,

    The government must cut spending on the sweeping bank regulation, Sen. Pat Toomey says.

  • SAO PAULO, Dec 8- Brazilian antitrust watchdog Cade said it has fined five international banks a combined 183.5 million reais as part of a settlement of charges they rigged the country's currency market. In July 2015, Cade accused a total of 15 banks of colluding to influence benchmark currency rates in Brazil by aligning positions and pushing transactions in a...

  • NEW YORK, Dec 7- Intercontinental Exchange Inc generally takes too long to complete investigations into questionable trading practices on its U.S. futures exchange as required by the rules, the regulator said. Overall, ICE Futures U.S. has an adequate trade practice surveillance program, the U.S. Commodity Futures Trading Commission said in a report dated Dec. 2.

  • Dec 6- Blackstone Group LP Chairman and CEO Steve Schwarzman said on Tuesday he expected to see a "very substantial reversal of regulations of all types," for the financial sector, following Donald Trump's U.S. presidential election victory. Trump has pledged to dismantle the 2010 financial overhaul known as Dodd-Frank, and Republicans in Congress have already...

  • Italian bank stocks on track for worst year since 2011

    After most European markets finished Monday in the black despite Italy’s referendum result, CNBC’s Julia Chatterley looks at how concerned markets should be about the country’s banks.

  • Higher credit losses hitting Italy’s banks: Hermes Investment

    Italy’s UniCredit has begun exclusive talks with Amundi to sell its asset management arm, Pioneer. Filippo Alloatti, senior credit analyst at Hermes Investment Management, takes a look at Italian banks.

  • A ‘No’ vote from Italy was already priced in: Chief economist

    LC Macro Advisors Founder and Chief Economist Lorenzo Codogno says he expects to see a “moderately negative” reaction from markets following the Italian referendum.

  • This is not good news for Europe: Macro Advisors

    LC Macro Advisors Founder and Chief Economist Lorenzo Codogno says European leaders will likely want to see a quick solution to the crisis in Italy.

  • Italian PM to quit after crushing referendum defeat

    After Italian Prime Minister Matteo Renzi announcement his intention to resign, CNBC’s Julia Chatterley discusses where the country goes from here.